April 14, 2021
Latham & Watkins has collaborated with the Association for Financial Markets in Europe (AFME) to produce: The ESG Disclosure Landscape for Banks and Capital Markets in Europe, a new resource designed to help financial institutions navigate Europe’s increasingly complex and interrelated ESG disclosure requirements.
In light of the rapid development of Europe’s regulatory framework for sustainable finance, and the ambitious and wide-ranging regulations that have been introduced in recent years, the report provides a comprehensive summary of current ESG reporting requirements, offers practical tips for how firms can approach the governance of ESG disclosures, and examines the interplay and overlap between key EU regulations such as the EU Taxonomy, the Non-Financial Reporting Directive, and the Sustainable Finance Disclosure Regulation, among others.
The report also provides a series of recommendations to assist European policymakers and regulators with establishing a coherent and streamlined disclosure framework.
“We are delighted to have partnered with AFME on this report to help financial institutions develop effective ESG disclosure strategies,” said Nicola Higgs, a financial regulatory partner in Latham & Watkins’ London office. “Europe is at the forefront of driving the development of disclosure standards, and this comprehensive new resource should provide a blueprint to advance the current regulatory landscape.”
Jacqueline Mills, AFME’s Head of Advocacy, added “Europe is playing a leading role in sustainable finance and is developing an ambitious and comprehensive ESG reporting framework. Ensuring the availability of high-quality ESG data from corporates should be prioritised as this will be key to facilitating the allocation of capital to companies in a way that supports transition objectives.”
The ESG Disclosure Landscape for Banks and Capital Markets in Europe is the latest addition to a suite of information produced by Latham & Watkins on ESG and closely follows the launch of the firm’s inaugural Book of Jargon® – Environmental, Social & Governance last year.
For additional resources and more information about Latham’s leading Environmental, Social & Governance Practice, click here.